Describes the salient features of Pradhan Mantri Rojgar Yojana (PMRY)

Question

Describes the salient features of Pradhan Mantri Rojgar Yojana (PMRY) and procedure of its implementation.

07 Sep 2024

Answer :

Word Count : 840

The Pradhan Mantri Rozgar Yojana (PMRY) is a flagship self-employment scheme launched in 1993 by the Government of India. It aims to address unemployment and poverty by providing financial assistance to educated and unemployed youth for establishing small businesses, industries, or service ventures. This initiative aligns with India's broader strategy of promoting rural development and strengthening Panchayati Raj Institutions (PRIs) as vehicles of grassroots economic empowerment. Below are the salient features of PMRY and the procedure for its implementation.

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### Salient Features of PMRY

1. Objective
PMRY seeks to generate self-employment opportunities by enabling unemployed youth to set up micro-enterprises, particularly in rural and semi-urban areas.

2. Target Beneficiaries
- Educated unemployed youth aged 18 to 35 years.
- Relaxation of up to 10 years in age for SC/ST, women, ex-servicemen, and differently-abled individuals.
- Minimum educational qualification: 8th standard pass.
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